GAIN Capital, , announced its financial results for the first quarter of this year, ended March 31, 2019. Although the firm managed to, it appears that the start of the new year has been less steady for the company.
For the first quarter of 2019, GAIN Capital reported a net loss of $28.4 million. This is in comparison to the $11.9 million profit the company made during the same time period of the previous year. It also translates to a loss of $0.76 per share.
Net revenues for the period came in at $38.4 million. When measuring this against the first quarter of 2018, which achieved a net revenue of $98.4 million, this is lower by 61 percent.
OTC Volumes Fall in Q1 for GAIN Capital
Taking a look at GAIN’s retail segment, the total over-the-counter (OTC) trading volume for the quarter was $487.3 million. This figure is much lower than the $795.4 million trading volume the broker achieved in the first quarter of 2018 by 38.7 percent.
As the OTC trading volume fell year-on-year, so did the OTC average daily volume (ADV). Specifically, the OTC ADV reported in Q1 of 2019 was $7.7 million, which is 37.9 percent less than the same period last year, which had an ADV of $12.4 million.
Source: Bloomberg
“We remain focused on our long-term goals and plan to invest in new client acquisition and retention, leveraging our powerful brand assets, innovating the trading experience and increasing our focus on our top clients. We are confident that we are well positioned to benefit upon the return of more normal market conditions.”
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